Ninety One UK Ltd decreased its position in shares of Honeywell International Inc. (NYSE:HON) by 22.1% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,525,334 shares of the conglomerate’s stock after selling 431,949 shares during the period. Ninety One UK Ltd owned approximately 0.22% of Honeywell International worth $220,548,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of the business. Campbell Wealth Management bought a new position in shares of Honeywell International during the 2nd quarter valued at about $26,000. CVA Family Office LLC bought a new position in Honeywell International during the first quarter valued at approximately $32,000. Baltimore Washington Financial Advisors Inc. purchased a new position in shares of Honeywell International during the second quarter worth approximately $33,000. Rockbridge Investment Management LCC bought a new stake in shares of Honeywell International in the 2nd quarter worth approximately $33,000. Finally, Aigen Investment Management LP purchased a new stake in shares of Honeywell International in the 1st quarter valued at $35,000. 75.30% of the stock is owned by hedge funds and other institutional investors.
Several research firms have weighed in on HON. Deutsche Bank lowered their price target on shares of Honeywell International from $163.00 to $153.00 and set a “hold” rating for the company in a research note on Monday, July 27th. Jefferies Financial Group increased their target price on Honeywell International from $170.00 to $175.00 and gave the company a “buy” rating in a report on Monday, July 27th. Cowen assumed coverage on Honeywell International in a research report on Sunday, July 26th. They set a “buy” rating and a $160.00 price target on the stock. Royal Bank of Canada downgraded Honeywell International from an “outperform” rating to a “sector perform” rating and lowered their price objective for the company from $166.00 to $158.00 in a research report on Tuesday, August 11th. Finally, HSBC raised Honeywell International from a “hold” rating to a “buy” rating and increased their price objective for the company from $138.00 to $158.00 in a research note on Thursday, May 21st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $160.89.
Honeywell International (NYSE:HON) last announced its quarterly earnings results on Friday, July 24th. The conglomerate reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.15 by $0.11. Honeywell International had a net margin of 16.94% and a return on equity of 29.93%. The company had revenue of $7.48 billion for the quarter, compared to analysts’ expectations of $7.28 billion. During the same quarter in the previous year, the company earned $2.10 earnings per share. Honeywell International’s quarterly revenue was down 19.1% on a year-over-year basis. As a group, equities analysts anticipate that Honeywell International Inc. will post 6.9 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 4th. Stockholders of record on Friday, August 14th were paid a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date of this dividend was Thursday, August 13th. Honeywell International’s payout ratio is presently 44.12%.
Honeywell International Company Profile
Honeywell International Inc operates as a diversified technology and manufacturing company worldwide. Its Aerospace segment supplies products, software, and services for aircrafts and vehicles. This segment offers auxiliary power units, propulsion engines, integrated avionics, environmental control and electric power systems, engine controls, flight safety, communications, navigation hardware, data and software applications, radar and surveillance systems, aircraft lighting, advanced systems and instruments, satellite and space components, and aircraft wheels and brakes; spare parts; repair, overhaul, and maintenance services; and connected solutions and data services for the aftermarket, as well as provides wireless connectivity and management and technical services.
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